Personal income decreased, savings increased in April

Personal income decreased in April, but personal savings increased, according to new data from the Bureau of Economic Analysis.

Personal income decreased $5.6 billion from March and disposable personal income decreased $16.1 billion. In March, personal income increased $36.2 billion and disposable personal income increased $25.4 billion.

Personal saving was $306.9 billion in April compared with $301.4 billion in March. The personal saving rate—personal saving as a percentage of disposable personal income—was 2.5 percent in April, which was the same as it was in March.